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Ask Dave

Not Supposed To Make Money

Diane's daughter has a huge amount of money saved for college, and doesn't want to goof up on its use.

QUESTION: Diane’s 18-year-old daughter has $110,000 to use for college, and they want to get her to use it right for education.

ANSWER: Don’t do anything fancy. Just a simple money market account is all you need. You’re not trying to earn money with this in the next 3 or 4 years because you’re about to use it for her education. You don’t want to get involved with the stock market with this money.